Airbus warns they are ‘bleeding cash’ over collapse in air travel

Airbus have revealed that they are “bleeding cash” over the collapse in demand for air travel due to the global coronavirus pandemic.

Chief executive Guillaume Faury warned in a letter to employees, “We’re bleeding cash at an unprecedented speed, which may threaten the very existence of our company.”

Faury added, that Airbus must act “urgently” to survive.

The company employs 13,500 people across the UK and Airbus are due to issue their financial results for Q1 on Wednesday.

Meanwhile, Wizz Air are set to resume flights during the coronavirus lockdown and are to start flights from Luton Airport this Friday, which goes against the government’s advice.

The budget airline that some European flights will resume from Friday at Luton Airport. However, easyJet, and British Airways flights are all grounded until further notice.

The Foreign & Commonwealth Office (FCO) announced  on the 6 April, against all non-essential travel, to any country in the world “indefinitely.”